MGM said the as-yet untitled film will celebrate the 50th anniversary of James Bond movies. The first of the films based on the spy novel series by British author Ian Fleming was "Doctor No," starring Sean Connery.

The movie studio, which is also behind the "Rocky" series, filed for Chapter 11 bankruptcy last November. It emerged last month after raising $500 million and working out a debt restructuing plan with Spyglass Entertainment.